That’s what many expect. Speculations are getting wild about election results and how they affect the markets. Many other aspects come into play and a heated emotional debate is in play since one’s political affiliation might trigger more emotions…. Stop! Any debate in one’s mind is not helpful for market play. Surprise news typically initiate perfect storms in the market. This is not the case right now. We don’t have certainty in who will be president just yet, but there are plenty of…
In a basin high above Ouray’s bustling tourist shops and hot springs pools, one of the precious metals that birthed this town and fired up its early boomtown days, is readying for a comeback. The first major silver mine in the San Juan Mountains in at least 80 years is on course to be in production next spring.
Aurcana Silver Corp., a Vancouver company that owns Ouray Silver Mines Inc., is deep into pre-production work at the Revenue-Virginius Mine, one of the largest and oldest…
Citigroup estimates silver could surge to $40 an ounce in the next 12 months due to a recovery in industrial demand and strong investor appetite for precious metals. Analysts including Max Layton wrote in a note that silver will outperform gold because it is “more levered than gold to inflation overshoots, rebounding manufacturing activity.”
The metals remain in a trading range as do the mining stocks likely due to the both the upcoming election and the announcement of the next stimulus bill, which is coming closer to both parties agreeing on. I don’t think we will get one before the Nov 3rd.
Suddenly it seems that nearly all of The Banks and Bullion Banks are raising price forecasts and rallying around the precious metals. Is this a good thing or a bad thing?
This was another week full of production results from gold and silver producers. This is far and away the most companies I’ve ever seen reporting quarterly production numbers instead of waiting until earnings. Again, this is likely because investors who know production numbers ahead of earnings could lead to buying earlier, pushing up stock prices.
Silver has taken a lot of signal for gold and while more volatile. The news cycle effecting gold has resulted in a number of false breakouts for silver that caught a number of technical traders by surprise. We have seen a breach of the long established trend support line that never turned in to a further move to the downside and a break to the topside as traders tried to digest and second guess the stimulus package news.
Today silver is looking a bit heavy and another close below trend…